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I would like to do a small proof of concept and integrate a Paypal payment page while a developer signs up for an API. Do we have any ready reckoner or sample code? Thanks

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You can achieve this in latest API Manager 1.10.0 version. There was a feature in 1.10.0 version in which we can do a HTTP redirection from subscription workflow. You can redirect to your billing page to do the payment stuffs. For more details refer the wso2 documentation.

quoted from documentation

consider an API Manager user publishes an API and wants to make that API a chargeable API. If there are no payment details of the subscriber, that subscriber is forwarded to a third party entity that handles the payment detail collection